Pension Plan
The Pension Plan of the Segal Company provides eligible employees with a lifetime monthly retirement benefit. Payments may continue to a spouse or other eligible beneficiary after death. Segal pays the full cost of this plan as part of our commitment to long‑term financial security for our employees.
How the plan works
- Participation. Your participation in the plan is automatic on the January 1 following six months of service.
- Vesting. You are 100% vested upon completing five years of service.
- Benefit amount. Your pension benefit is determined by a formula that considers several factors, including:
- Your hire date
- Your age at retirement
- Your years of service
- Your pay history, including eligible bonuses and incentives
- Your collective bargaining status
- Survivor benefits. You may elect preretirement survivor annuity and lump-sum death benefit beneficiaries if you should pass away before starting receipt of your vested benefit.
- Retirement. Normal retirement is the later of age 65 or five years of service. You may be eligible for early retirement between age 55 and 65 if you’ve completed at least 10 years of service.
- Payment options. The plan offers many different annuity payment options, which may be dependent on whether you’re single or married.
As a participant, you can register and access the Segal Pension Portal to view your personalized pension benefit information and to model future pension payments at different retirement ages.
